REGISTERED NUMBER: 07163003 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

URBAN VISION ADV UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G De Marchi

S Bocchetti

REGISTERED OFFICE:

81 Fulham Road

Chelsea

London

SW3 6RD

REGISTERED NUMBER:

07163003 (England and Wales)

AUDITORS:

N7 Accountants Limited

Statutory Auditors

Central House

1 Ballards Lane

London

N31LQ

FIXED ASSETS

Tangible assets

4

467

-

CURRENT ASSETS

Debtors

5

728,756

1,072,896

Prepayments and accrued income

22,229

34,837

750,985

1,107,733

CREDITORS

Amounts falling due within one year

6

(1,666,335

)

(2,944,637

)

NET CURRENT LIABILITIES

(915,350

)

(1,836,904

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(914,883

)

(1,836,904

)

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

(919,883

)

(1,841,904

)

(914,883

)

(1,836,904

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 December 2025 and were signed on its behalf by:

G De Marchi - Director

1.	STATUTORY INFORMATION

URBAN VISION ADV UK LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparation

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The

Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are presented in Pounds Sterling (£), which is the company’s functional and presentation currency.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value-added tax and other sales taxes. Revenues from the rendering of services are recognised as the services are provided, when it is probable that an economic benefit associated with the transaction will flow to the entity and the amount of revenue can be measured reliably. Where services are provided over a period of time, revenue is recognised on a time-apportioned basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Furniture and fittings - 25% on cost

Financial instruments

Financial assets

The company's financial assets comprise basic financial instruments, being trade and other receivables, amounts owed by group undertakings, cash and bank balances.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of no more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade, other receivable and amounts owed by group undertakings are measured at transaction price less any impairment. Any impairment loss is recognised in the Profit and Loss.

Financial assets are derecognised when contractual rights to the cash flows from the financial asset expires or are settled, or when substantially all the risks and rewards of ownership have been transferred.

Financial liabilities

The company's financial liabilities comprise of basic financial liabilities, including trade and other payables.

These are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled, or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The Company is dependent upon the continuing financial support of its parent company, Urban Vision S.P.A., without which there would be significant doubt about its ability to continue as a going concern as well as its ability discharge its liabilities in the ordinary course of business. The parent company has indicated its intention to continue providing such financial assistance to the Company to enable it to continue as a going concern and to meet its obligations as they fall due for at least 12 months from the date of approval of these financial statements.

Therefore the directors consider it appropriate that the financial statements are prepared on a going concern

basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

11,676

Additions

590

At 31 December 2024

12,266

DEPRECIATION

At 1 January 2024

11,676

Charge for year

123

At 31 December 2024

11,799

NET BOOK VALUE

At 31 December 2024

467

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

553,520

933,048

Amounts owed by group undertakings

98,123

98,123

Other debtors

77,113

41,725

728,756

1,072,896

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

463,643

604,620

Amounts owed to group undertakings

837,650

1,672,576

Taxation and social security

16,402

14,289

Other creditors

348,640

653,152

1,666,335

2,944,637

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Evangelos Charalampous FCCA (Senior Statutory Auditor)

for and on behalf of N7 Accountants Limited

8.	RELATED PARTY DISCLOSURE

During the year, the Company received a capital contribution from its controlling party in the form of a waiver of an intercompany trade balance amounting to £807,273.

The waiver was formalised through a legally binding agreement between the parties, under which the controlling party unconditionally and irrevocably waived its right to repayment. Reflecting the substance of the transaction, the waived amount has been recognised directly in equity as a capital contribution.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Urban Vision S.p.A.

The parent company is Urban Vision S.p.A. a company registered in Italy.

The smallest and largest group of undertakings for which consolidated accounts have been drawn up is that headed by Urban Vision S.p.A. and copies are available from Urban Vision S.p.A. at its registered office in Italy, Galleria San Babila 4/A 20122 Milan.